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TNB Card Services acquires 4.4 million in card balances

DALLAS (1/8/08)--TNB Card Services has purchased the credit card portfolios of York County FCU, Sanford, Maine; and Tower CU, Wausau, Wis., adding $4.4 million in card balances to TNB’s portfolio. York County sold its portfolio to TNB to offer more products and a rewards program to members. The credit union has $159 million in assets. “By selling the portfolio, we can now offer a more attractive card product, including a Platinum card and rewards, which we don’t have today,” said Jim Nelson, York County CEO. Tower CU sold its portfolio, which reduced risk and reallocated staff resources to support more critical aspects of its operation, said Hal Osborn, Tower CEO. Tower has $45 million in assets. TNB is a provider of electronic payments and processing.